The Magnolia Bowl, as this game has been dubbed, is a rivalry between LSU and Ole Miss. The first meeting between LSU and Ole Miss was in 1894.
The rivalry was at its peak in the 1950s and 1960s. LSU and Ole Miss were highly ranked during this time and both won a consensus national championship. The schools have been meeting each year since 1945. They have been regular opponents in the conference. This rivalry fell from its' peak after Ole Miss lost their touch that they had during their prominence. The LSU-Ole Miss rivalry somewhat dwindled because Ole Miss wasn't one of the top teams in the conference or nation from the 70s to the 90s.
The SEC split up in 1992. With that, LSU's rivalries with Auburn, Alabama, and Florida were especially affected.
The passion was stirred up in Baton Rouge and Oxford in years when it was pretty clear who was going to win this game.
The rivalry has been renewed somewhat. In 2003, the rivalry gained attention in the media especially because it had major implications. LSU could have gone on to the national championship if they beat Ole Miss. Ole Miss could have moved up to the top 10 in the polls and onto the SEC championship. By the way, LSU ended up splitting the national championship with the USC Trojans. Ole Miss returning to prominence this year (2003), along with LSU being good, put the meaning back into their rivalry. The rivalry was still a rivalry but when both teams are good, then it makes the game much more anticipated.
Last year, both schools took part in christening the magnolia flower. The magnolia flower is important because it is both Louisiana's and Missisippi's flower. Ole Miss's 2008 31-13 win down in Baton Rouge, gave them the first christened magnolia flower. With both teams ranked in the top 25 currently, this showdown in Oxford is promising to be a better game.
LSU has the edge in the series with Ole Miss. They have won 55 games and lost 38 games. 4 games were tied. LSU has the longest win streak in this rivalry with 8 games. LSU won this game from 1928 to 1937, with the game not being played during 1932 and 1935. The next longest win streak in this rivalry is 6 games. This is a feat that both teams accomplished. Ole Miss won this game from 1952 to 1957. LSU won the game from 2002 to 2007.